KoosKanmar

$STXRES ETF. Resources bouncing off support

Long
JSE:STXRES   SATRIX RESI PORTFOLIO
The Satrix resource ETF has been trading around a defined uptrend for a couple of years now. Recently it broke out of the range and retested the upper band of the range before moving higher again. The upper band has been tested once more and you have to wonder if the recent high will be challenged again 7440. Large economies seem to be running hot at the moment which means the demand for resources will continue to rise. Maybe another buy opportunity here.
Comment: 7540

Comments